CMPDIL IPO: Tepid bids on Day 1; GMP plunges, check other details | Right for you?

CMPDIL IPO had a tepid first day of bidding when it could notch up only 0.07 times overall bids. QIBs did not apply for any shares at all. The GMP has plunged nearly to zero. Analysts have flagged a risk factor despite a near monopoly status of the firm in its line of business.

Kolkata: While there was some buzz in the market initially around the public issue of a Coal India arm, the first day of the bidding process on Friday, did not live up to that expectation. On March 120, the CMPDIL IPO was subscribed only 0.07 times overall — 0.10 times in the retail category, 0.00 times in QIB category and 0.05 times in the NII category.

CMPDIL (Central Mine Planning and Design Institute) set out to mobilise Rs 1,842 crore through the IPO and had raised Rs 470 crore from anchor investors, which included 22 prominent funds.........

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